Another China Market Scare

For the second time this year, China's market tumbled due to fears that Beijing will slow its hyper-growth economy. It used to be that the U.S. called the shots around the globe - but as China's economy explodes, so does its influence. What does an unstable China mean for American companies?

Eric Bolling says China’s growth this year will equal the GDP of Canada, Mexico and Spain combined. He adds as the people of China have more wealth they move to the cities - what do they need in cities? Elevators and air conditioners! He likes United Technologies Corporation (UTX).

Fast Money World

Trading China, with Nucor CEO Dan DiMicco on the Fast line

Dylan Ratiagn says it takes steel to make elevators, and steel maker Nucor (NUE) Chief Executive Dan DiMicco joins the guys for this conversation on the Fast Line.

Mr. DiMicco says massive over-capacity because China’s government pours money into whatever is hot. Consequently, he says, the free market has to compete with that excess inventory, and most of it is government owned. That’s a recipe for disaster.

Eric Bolling sees it differently and asks isn’t China as an opportunity for Nucor to expand?

Mr. DiMicco admits is has been, but is turning negative now. He adds Nucor can not go into China and buy much more than a small minority position in a Chinese steel company.